From Advertising Week
A major lender gets consumer data from a credit union partner to determine the rate on a loan. An auto company gets loan information to negotiate a sale with a potential customer. A healthcare company gets insurance information about a patient to determine what care to provide.
All of these examples show just how often data about a consumer is shared between two companies – outside of marketing. Yet in many organizations, these processes are one-off, without any connection to the largest customer picture. The only place customer data has historically been unified and actively managed is in the marketing department. Known as the “universal customer profile,” marketers and advertisers have layers of technology and integrations that help manage a customer’s identity and keep it up to date to be used for coordinated outreach.